The Queensland Government is investing $39 million in the Strategic Blueprint for Queensland’s North West Minerals Province which is expected to enable the region to become the ‘cobalt capital’ of Australia.
Queensland’s North West Minerals Province has the potential to become a key global supplier of cobalt in the future. Cobalt is a key ingredient for the next phase of the renewable revolution and is critical in the production of mobile phones, wind turbine generators and electric cars.
The North West Mineral Province contains about 75 per cent of the state’s base metal and minerals, including copper, lead, zinc, silver, gold, cobalt and phosphate deposits.
Natural Resources Minister Dr Anthony Lynham said this is in addition to the $3.6 million which has been invested in the Collaborative Exploration Initiative (CEI) to help deliver significant economic benefits to Queensland for decades to come.
“Our CEI grants program from the last two round has helped 21 companies, such as Aeon Metals, with funding. CEI has been run for over a decade to help meet growing global demand for the battery minerals and rare earths in this highly prospective region.
Aeon Metals Exploration Manager, Dan Johnson said their flagship asset and highest priority tenement was the 100 per cent owned Walford Creek Project located approximately 350km north west of Mount Isa.
“This project is an advanced world-class copper-cobalt project and one of the highest-grade significant cobalt deposits in Australia,” Mr Johnson said.
“Exploration is a high-risk, high-cost activity and the Queensland Government’s support was a big help, as it alleviated some of the risk for us to try innovative approaches such as seismic surveys in new areas.”